Attention LIC customers, Life Insurance Corporation of India has changed its office timings. The LIC working hours have been changed after the central government had announced Saturday as a public holiday for Life Insurance Corporation of India. Now, LIC has issued a notice stating that Life Insurance Corporation of India office hours will be from Monday to Friday. The new LIC office timings will be from 10 am to 5.30 pm starting May 10. 

“Pursuant to the Notification S.O 1630 (E) dated 15th April, 2021 wherein the Central government has declared every Saturday as a Public Holiday for Life Insurance Corporation of India, all policy holders and other stake holders are informed that w.e.f 10th May, 2021, all offices of Life Insurance Corporation of India will work from Monday to Friday,” LIC stated in the notice.

“Starting 10th May 2021, Office hours from Monday to Friday would be from 10.00 AM to 5.30 AM,” LIC said in the statement.

During the Covid pandemic situation, if LIC customers are not willing to visit nearby branches they can avail online services at www.licindia.in.
Mean-while, the government on Wednesday cleared the strategic sale of IDBI Bank, in what will be the first instance of the disinvestment policy being used in the banking sector – so far a no-go area.”The extent of respective shareholding to be divested by GoI and LIC shall be decided at the time of structuring of transaction in consultation with RBI,” an official statement said.
LIC is the largest shareholder with 49.2% stake, and is classified as the promoter and has management control. The Centre, which is a 45.5% owner, is the co-promoter. The statement said that the LIC board passed a resolution allowing the state-run insurance giant – which is due for a listing – to divesting its stake along with strategic stake sale.
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“It is expected that strategic buyer will infuse funds, new technology and best management practices for optimal development of business potential and growth of IDBI Bank and shall generate more business without any dependence on LIC and government funds,” it said.